World News

China's memory chip makers ride AI boom to new power and US scrutiny

Executives at the Huawei-connected equipment vendor, SiCarrier, concluded the confrontation was the result of the power struggle between CXMT and Huawei

US DOJ drops subpoenas to NYT reporters in Trump Air Force One case

US District Judge Arun Subramanian cited "profound First Amendment" issues raised by the case before skeptically questioning a govt lawyer about the steps the govt took before issuing demands

Novo Nordisk seeks orders to block Eli Lilly weight-loss drug ads

Lilly on Friday denied any wrongdoing, saying it stood by its advertising and would vigorously defend itself. Novo and Lilly are battling for dominance in the obesity drug market

Volkswagen CEO warns deeper cost cuts needed as China competition mounts

"When we look to the future, we have more and more risks coming," Blume said, pointing to more than 150 competitors in China

SK Group chairman Chey Tae-won ordered to pay $640 million in divorce case

Fund managers said Chey may still need to sell shares in units of SK Group or use them as collateral to raise funds for payment, but it probably wouldn't affect management control of the conglomerate

Intel signals stronger growth as AI infrastructure spending gathers pace

Intel expects third-quarter revenue between $15.8 billion and $16.8 billion, compared with analysts' average estimate of $15.1 billion

Donald Trump warns China and Russia against involvement in Iran war

US President Donald Trump does not believe that China and Russia are participating in the Iran war but warned that if they did get involved, then it would be very bad for them

Spain declares national emergency over wildfires, France asks EU for help

French authorities ordered the total evacuation of the Cap Ferret peninsula, a tourism hotspot busy for the summer season, as smoke and flames drew closer to homes

Donald Trump weighs 'massive attack' on Iran as Hormuz crisis deepens

Trump told Axios in an interview that he was "close to making a decision" on attacks that would be "bigger than ever before"

Bangladesh President Mohammed Shahabuddin resigns, cites health issues

The Bangladesh President resigned two years before his term ends, citing health complications, with Speaker Hafizuddin Ahmed set to take charge as acting President

AMD sees compute market zooming to $2 trn by 2030, launches new products

The chipmaker unveiled new AI processors and infrastructure at its Advancing AI Summit, betting on surging demand for agentic AI, inference workloads and open computing platforms

Canada ready to respond if Trump's new tariffs take affect: PM Carney

The new tariffs, announced by Trump on Monday, are scheduled to come into effect Aug 19

'Unjustified': Asian allies push back against Trump's forced-labor tariffs

Japan, Australia, New Zealand and Singapore criticised the US for imposing fresh tariffs of up to 12.5% on imports over alleged forced-labour concerns

US launches new strikes on Iran as clashes escalate over shipping routes

US CENTCOM said the latest strikes aim to weaken Iran's ability to threaten commercial shipping, while Yemen's Houthi rebels attacked two Saudi oil tankers in the Red Sea

Trump imposes 10% tariff on Indian goods over forced labour concerns

Last month, when the US had proposed tariffs under Section 301 of the Trade Act, India was bracketed among countries attracting 12.5% levies

US imposes tariffs of 10-12.5% on imports from 60 trading partners

Goods from some 10 trading partners deemed to have adopted forced-labor restrictions will be subject to 10% tariffs, including India, Mexico, the UK and Canada

Donald Trump pegs nuclear deal to Saudi Arabia joining Abraham Accords

Trump said that the Civil Nuclear Deal pertains only to non-military use such as the ones that Iran and UAE already have, will be approved, but is subject to Saudi Arabia joining the Abraham Accords

Trump threatens Iran with military action after Houthi tanker strikes

The prospect that disruption could widen to a second sea sent global oil prices surging in one of the steepest rises of the war.

Nestle beats Q2 sales estimate, set to raise €3 billion from joint venture

The company has been reshaping its portfolio under Chief Executive Officer Philipp Navratil, who has sought to improve growth and profitability by focusing on the company's core brands

Jeff Bezos pushes Prime Video redesign focused on artificial intelligence

The Prime Video initiative grew out of an internal presentation the streaming service's executives made to Bezos last autumn that turned contentious